Shri Neeraj Kumar Gupta IAS ( Uttar Pradesh 1982) presently posted as Special Secretary, Ministry of Heavy Industries & Public Enterprises GOI, has been appointed as Special Secretary, Department of Public Enterprises, GOI.
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Summary: Hidden below the surface of California’s Central Valley are pollen grains from the Pleistocene that are providing scientists with clues to the severity of droughts that struck the region between glacial periods.
The Pleistocene — the age of mammoths and mastodons — occurred between 1.8 million and 11,500 years ago. For this new study, scientists dug up Pleistocene sediment samples containing buried pollen from the Central Valley. They found that pollen samples dated from interglacial periods — years between surges in the mountain glaciers — predominantly came from desert plants. The same sediments lacked pollen from plants of wetter climates.
“During the Ice Age there were lengthy periods of severe drought much drier than we are experiencing today,” said Lanny Fisk, chief paleontologist with PaleoResource Consultants in Auburn, California. “It’s the droughts that may have resulted in the extinction of large Pleistocene mammals like mammoths.” Fisk will present evidence on Sunday, 1 November, at the Annual Meeting of the Geological Society of America, in Baltimore.
During the Pleistocene, glaciers formed in the Sierra Nevada, growing and shrinking numerous times throughout the epoch as the climate cooled and warmed. The layers of sediment in the valley are a record of these shifts in climate. During periods of melt, water swept sediments from the mountains into the valley, adding new layers with each cycle of glaciers, Fisk said.
While searching for fossils in the Central Valley during construction projects, Fisk noticed a mineral crust, called caliche, was often present between the layers of glacial sediment. Caliche only forms during extreme droughts, when evaporation draws water to the soil surface. When this water evaporates, it leaves behind layers of minerals.
Fisk and his colleagues focused on caliche layers formed during interglacial periods of the Pleistocene. They extracted organic particles, such as plant pollen and fungal spores, from the caliche and the sediment layers both above and below the caliche. The scientists hoped to gain a better understanding of the climate during Pleistocene interglacial periods by identifying the plants growing in the Central Valley at that time.
“Plants, unlike animals, don’t have the luxury of moving when the climate changes,” said Fisk. “The pollen and spores left behind [in the caliche] represent the type of ecosystem in place at that time.”
The pollen and spores in the caliche included palms, yucca, Mormon tea, and cacti, but with very little grass, similar to the modern Colorado Desert in southeastern California. On the other hand, pollen and spores in the glacial sediment underneath the caliche came from conifers — pine, fir, hemlock and spruce. The vegetation changed between a cool, damp coniferous forest and a dry desert as climate changed throughout the Pleistocene, said Fisk.
“The caliche samples did not contain pollen from the types of plants that grow in the Central Valley today nor the kinds that grow up in the Sierras,” said Fisk. “The environment was desert-like, if not actual desert — much drier than it is today even with our current drought.”
A recent study published in the journal Science attributes the extinction of many of the giant mammals from the Pleistocene not to over-hunting, “over-kill,” or harsh glacial temperatures, “over-chill,” but to the periods of drought between glaciation events.
“Most people think of the Ice Age as cold and wet, but these cold and wet periods were interspersed with hot and dry periods,” said Fisk.
That’s not to say human hunting or other factors did not add to the extinction of the Pleistocene giants, but the sudden switch to a desert-like environment may have caused huge problems for these animals, said Fisk, who was surprised by how dry the region got during the interglacial periods.
In the future, Fisk hopes to study caliche with pollen from earlier Pleistocene droughts. With any luck, he can help answer questions about why the mammoths and mastodons survived a number of warm interglacial periods, but then disappeared during the last drought of the epoch.
Source:Geological Society of America
Boeing and Korean Air today finalized the airline’s order of 30 737 MAXs and two additional 777-300ER (Extended Range) jetliners valued at nearly $4 billion at current list prices. The airline also has options for additional 737 MAXs as part of the order, which was previously announced as a commitment during the Paris Air Show in June.
With this order for up to 52 Boeing airplanes, Korean Air becomes Boeing’s newest 737 MAX customer and now has 62 firm Boeing airplane orders on backlog.
“Korean Air is a valued Boeing customer and today’s order is the culmination of our longstanding partnership that spans over four decades,” said Boeing Commercial Airplanes President and CEO Ray Conner. “Korean Air has been a pioneer in Asia’scommercial aviation industry and today, we are truly honored to welcome Korean into the new 737 MAX family. I am confident these new airplanes will play an important role in Korean Air’s fleet modernization program for many years to come.”
As part of this order for 737 MAX airplanes, Korean Air also adds another two 777-300ERs as it continues to modernize its long-haul widebody fleet.
Korean Air currently operates a fleet of 91 Boeing passenger airplanes that consist of 737, 747 and 777 models. The airline also operates an all-Boeing cargo fleet of 28 747-400, 747-8 and 777 Freighters.
Korean Air’s Aerospace Division is a key Boeing partner on both the 747-8 and 787 programs, supplying the distinctive raked wing-tips for each model. They are also one of two suppliers producing the new 737 MAX Advanced Technology (AT) Winglet.
The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. Beginning in 2017, the new single-aisle airplane will deliver 20 percent lower fuel use than the first Next-Generation 737s and the lowest operating costs in its class – 8 percent per seat less than its nearest competitor. With broad market acceptance, the 737 MAX has 2,929 orders from 60 customers worldwide.
The 777-300ER is one of the most fuel and cost-efficient airplanes in its class as well as the most reliable twin-aisle aircraft in the world. It also has the highest cargo capability of any passenger airplane in service. The 777-300ER will receive further improvements in 2016 designed to reduce fuel use by 2 percent. The flagship of the world’s elite airlines, the 777-300ER carries 396 passengers in a standard two-class configuration up to 7,370 nautical miles (13,650 kilometers), on non-stop routes. Korean Air has configured its 777-300ER with a seating capacity of 277 passengers in a three-class configuration.
Korean Air, with a fleet of 166 aircraft, is one of the world’s top 20 airlines, and operates more than 430 flights per day to 128 cities in 45 countries. It is a founding member of the SkyTeam alliance, which together with its 20 members, offers its 612 million annual passengers a worldwide system of more than 16,000 daily flights covering 1,052 destinations in 177 countries
Shri K.B Singh IPS (Odisha 1985) presently posted as Director.-cum-ADGP, Vigilance., Odisha, Cuttak, has been appointed as Director General of Police(DGP), Odisha, as Shri Sanjeev Marik has proceeded on leave.
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FICCI is happy to note that the Bankruptcy Law Reform Committee has placed the Draft Insolvency and Bankruptcy Code, 2015 in public domain for comments. “This is a much awaited reform which has remained pending and would bring greater legal certainty and speed in closure of businesses which need winding up due to genuine reasons. This will be a huge boost for banks and will also be critical for development of a corporate bond market in India”, said Dr. A Didar Singh, Secretary General, FICCI.
The Union Cabinet chaired by the Hon’ble Prime Minister Shri Narendra Modi, has today given its approval to a new scheme moved by the Ministry of Power – Ujwal DISCOM Assurance Yojna or UDAY. UDAY provides for the financial turnaround and revival of Power Distribution companies (DISCOMs), and importantly also ensures a sustainable permanent solution to the problem.
UDAY is a path breaking reform for realizing the Hon’ble Prime Minister’s vision of affordable and accessible 24×7 Power for All. It is another decisive step furthering the landmark strides made in the Power sector over the past one and a half years, with the sector witnessing a series of historic improvements across the entire value chain, from fuel supply (highest coal production growth in over 2 decades), to generation (highest ever capacity addition), transmission (highest ever increase in transmission lines) and consumption (over 2.3 crore LED bulbs distributed).
The weakest link in the value chain is distribution, wherein DISCOMs in the country have accumulated losses of approximately Rs. 3.8 lakh crore and outstanding debt of approximately Rs. 4.3 lakh crore (as on March, 2015). Financially stressed DISCOMs are not able to supply adequate power at affordable rates, which hampers quality of life and overall economic growth and development. Efforts towards 100% village electrification, 24X7 power supply and clean energy cannot be achieved without performing DISCOMs. Power outages also adversely affect national priorities like “Make in India” and “Digital India”. In addition, default on bank loans by financially stressed DISCOMs has the potential to seriously impact the banking sector and the economy at large.
Due to legacy issues, DISCOMs are trapped in a vicious cycle with operational losses being funded by debt. Outstanding debt of DISCOMs has increased from about Rs. 2.4 lakh crore in 2011-12 to about Rs. 4.3 lakh crore in 2014-15, with interest rates upto14-15%.
UDAY assures the rise of vibrant and efficient DISCOMs through a permanent resolution of past as well as potential future issues of the sector. It empowers DISCOMs with the opportunity to break even in the next 2-3 years. This is through four initiatives (i) Improving operational efficiencies of DISCOMs; (ii) Reduction of cost of power; (iii) Reduction in interest cost of DISCOMs; (iv) Enforcing financial discipline on DISCOMs through alignment with State finances.
Operational efficiency improvements like compulsory smart metering, upgradation of transformers, meters etc., energy efficiency measures like efficient LED bulbs, agricultural pumps, fans & air-conditioners etc. will reduce the average AT&C loss from around 22% to 15% and eliminate the gap between Average Revenue Realized (ARR) & Average Cost of Supply (ACS) by 2018-19.
Reduction in cost of power would be achieved through measures such as increased supply of cheaper domestic coal, coal linkage rationalization, liberal coal swaps from inefficient to efficient plants, coal price rationalization based on GCV (Gross Calorific Value), supply of washed and crushed coal, and faster completion of transmission lines. NTPC alone is expected to save Rs. 0.35 / unit through higher supply of domestic coal and rationalization / swapping of coal which will be passed on to DISCOMs / consumers.
Financial liabilities of DISCOMs are the contingent liabilities of the respective States and need to be recognized as such. Debt of DISCOMs is de facto borrowing of States which is not counted in de jure borrowing. However, credit rating agencies and multilateral agencies are conscious of this de facto debt in their appraisals. In line with the above and similar observations of Fourteenth Finance Commission, States shall take over 75% of DISCOM debt as on 30 September 2015 over two years – 50% of DISCOM debt shall be taken over in 2015-16 and 25% in 2016-17. This will reduce the interest cost on the debt taken over by the States to around 8-9%, from as high as 14-15%; thus improving overall efficiency. Further provisions for spreading the financial burden on States over three years, will give States flexibility in managing the interest payment on the debt taken over, within their available fiscal space in the initial few years. A permanent resolution to the problem of DISCOM losses is achieved by States taking over and funding at least 50% of the future losses (if any) of DISCOMs in a graded manner.
UDAY is a shining example of the utilization of the best principles of cooperative and competitive federalism and has been evolved through discussions at the highest levels with multiple States. Adopting UDAY is optional for States, but provides the fastest, most efficient and financially most feasible way for providing 24X7 Power for All. It will be operationalized through a tri-partite agreement amongst the Ministry of Power, State Government and the DISCOM.
UDAY accelerates the process of reform across the entire power sector and will ensure that power is accessible, affordable and available for all. UDAY truly heralds the uday (rise), of a ‘Power’ful India.
Salient Features of UDAY
· States shall take over 75% of DISCOM debt as on 30 September 2015 over two years – 50% of DISCOM debt shall be taken over in 2015-16 and 25% in 2016-17.
· Government of India will not include the debt taken over by the States as per the above scheme in the calculation of fiscal deficit of respective States in the financial years 2015-16 and 2016-17.
· States will issue non-SLR including SDL bonds in the market or directly to the respective banks / Financial Institutions (FIs) holding the DISCOM debt to the appropriate extent.
· DISCOM debt not taken over by the State shall be converted by the Banks / FIs into loans or bonds with interest rate not more than the bank’s base rate plus 0.1%. Alternately, this debt may be fully or partly issued by the DISCOM as State guaranteed DISCOM bonds at the prevailing market rates which shall be equal to or less than bank base rate plus 0.1%.
· States shall take over the future losses of DISCOMs in a graded manner and shall fund them as follows:
Year
2015-16
2016-17
2017-18
2018-19
2019-20
2020-21
Previous Year’s DISCOM loss to be taken over by State
0% of the loss of 2014-15
0% of the loss of 2015-16
5% of the loss of 2016-17
10% of the loss of 2017-18
25% of the loss of 2018-19
50% of the previous year loss
· State DISCOMs will comply with the Renewable Purchase Obligation (RPO) outstanding since 1st April, 2012, within a period to be decided in consultation with Ministry of Power.
· States accepting UDAY and performing as per operational milestones will be given additional / priority funding through Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY),Integrated Power Development Scheme (IPDS), Power Sector Development Fund (PSDF) or other such schemes of Ministry of Power and Ministry of New and Renewable Energy.
· Such States shall also be supported with additional coal at notified prices and, in case of availability through higher capacity utilization, low cost power from NTPC and other Central Public Sector Undertakings (CPSUs).
· States not meeting operational milestones will be liable to forfeit their claim on IPDS and DDUGJY grants.
· UDAY is optional for all States. However, States are encouraged to take the benefit at the earliest as benefits are dependent on the performance.
ZyFin Holdings Pte. Limited (ZyFin) is pleased to announce it has received approval from the Central Bank of Ireland to launch a UCITS Dublin domiciled fund structure in Europe. ZyFin plans to launch a suite of innovative ETFs including the world’s first Indian fixed income ETF and Europe’s first physically-backed Indian ETF on the Frankfurt and London Stock Exchanges. The fixed income ETF is physically backed by real underlying securities as opposed to notional securities or derivatives.
ZyFin was founded in India in 2011 as a macro-analytics research firm. Its research capabilities provide ZyFin with the vital and necessary underpinnings for developing innovative investment products. With this ETF launch, the company is also announcing its focus on building intelligent ‘smart-beta’ investment products such as ETFs that are consistent with its mission of transforming emerging market investing by providing global investors access to attractive investment opportunities in a transparent and cost-effective manner.
Sanjay Sachdev, Executive Chairman & Co-Founder commented, “Backed by our expertise in macro-analytics research, we are very excited about launching our first ETF in Europe. Over the course of the next year, we plan to launch a range of fixed income and equity ETFs to offer easy access for global investors that want exposure to capital markets in India.”
Nina Shapiro, Board Member added, “With high GDP growth, reducing inflation and budget deficits and a progressive government focused on economic development, the investment case for India is compelling and this is a fantastic time for ZyFin to be at the forefront of bringing India closer to global investors.”
Neeraj Bhargava, Board Member and Lead Investor added, “Sanjay and the team at ZyFin are true innovators. ZyFin’s first ETF product is a testimony of the innovation as it launches the world’s first Indian fixed income ETF, which provides an attractive option for global fixed income investors to address their thirst for higher yields in an otherwise challenging market where fixed income investors are starved of attractive yield-generating options.”
ZyFin’s board members include Nina Shapiro (Former VP, Finance & Treasurer of the World Bank Group’s International Finance Corporation), Neeraj Bhargava, Raman Kumar (successful entrepreneur and investor), Udayan Goyal of Anthemis (successful UK-based investor in financial technology ventures), and Sanjay Sachdev.
About ZyFin:
ZyFin Holdings Pte. Limited, through its subsidiaries, is aspiring to be the premier developer of ETFs and other ‘passive’ and intelligent investment products that provide global investors superior, transparent, easily accessible and cost-effective access to attractive investment opportunities in emerging markets
Boeing Company announced a $500,000 donation to the International African American Museum during the 2015 Equal Opportunity Day Dinner hosted by the Columbia Urban League.
“Boeing is committed to supporting and giving back to the communities where our employees live and work,” said Tim Keating, Boeing’s Senior Vice President of Government Affairs. “Through our investment in this important museum of African American history and identity, we at Boeing hope to play a key role in helping tell the story of the largely overlooked history of African Americans in the Charleston area.”
The Boeing charitable contribution to the museum is in addition to a $250,000 donation made in 2011 and will be used to support the creation of the Family Heritage Center associated with the International African American Museum in Charleston, S.C.
“This generous gift from Boeing takes us one step closer to the International African American Museum,” said Joseph Riley, Jr., mayor of Charleston. “Boeing is, again, a generous corporate neighbor, making sure that our community can share our rich and meaningful history with the people of the Lowcountry and the world.”
Beverly Wyse, Boeing South Carolina vice president and general manager, said, “The people of South Carolina have embraced us with open arms and we want to give back. This contribution is significant to the cultural development and historical preservation of this area. It is also yet another example of Boeing’s commitment to the local community, which includes support of institutions like Allen University in Columbia and the renovation of Chappelle Auditorium.”
The International African American Museum aims to re-center South Carolina’s place in global history, illuminating its role in the international slave trade and the Civil War. The museum will connect visitors to their ancestors, demonstrating how enslaved Africans and free blacks shaped economic, political, and cultural development in the nation and beyond.
Additionally, the Columbia Urban League honored Boeing with the distinguished “Virgil C. Summer Corporate Award” for achievement in demonstrating consistent promotion of equal opportunity and social justice. Boeing has invested more than $25 million in South Carolina non-profit organizations since 2010 and has volunteered approximately 7,000 times in more than 200 community projects.
“It is a privilege to be associated with the Urban League, which for more than a century has promoted financial stability and racial inclusion in our communities,” said Keating. “Receiving this award exemplifies Boeing’s commitment to diversity and inclusion in the workplace.”
Since 1967, the Columbia Urban League has served the Midlands with programs and initiatives aimed at helping African-Americans achieve economic self-reliance, parity, power and civil rights.
Shri T.V.S.N Prasad IAS (Haryana 1988) presently posted in cadre, has been Posted as Joint Secretary PM Division, Ministry of Home Affairs(MHA), New Delhi.
IndianBureaucracy.com wishes the very best.
Government is willing to extend help and financial support to people who come up with an idea to revive industrial units that have turned sick, a top MSME Ministry official said at an ASSOCHAM event held in New Delhi today.
“If there is a specific idea in your mind and need some financial support to revive sick units, you may come up with a proposal,” said Dr Anup K. Pujari, secretary, MSME Ministry while inaugurating a conference on ‘Profit Re-Engineering,’ organised by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“Among the companies who have turned sick, if their business proposition is good but it has not been executed correctly, they may very well revive,” said Dr Pujari.
He also said that the one-page Udyog Aadhaar Memorandum notified by the government which must be filled online by all micro, small and medium enterprises (MSMEs) is getting large response from people.
“There are some people who are criticising us because it is called Udyog Aadhaar, it is an erroneous impression that Aadhaar number is mandatory to get Udyog Aadhaar Memorandum filed,” said Dr Pujari.
“While an Aadhaar number is required because you are filing electronically and we need to validate that, it need not be the Aadhaar number of that entrepreneur or the enterprise because it is given only to an individual,” he added.
“Any incorporated company will have an authorised representative who files for them, we want that person’s Adhaar number, it is to ensure that whatever is being filed is not a ghost filing,” further said Dr Pujari.
“We also have a checking system on that by which we take the bank details and the IFSC code of that, I do think this will simplify ease of doing business,” he said.
Stressing on the need to promote entrepreneurship across India, Dr Pujari said “Today we need, not job seekers but job creators i.e. a person who is going for profit, a successful entrepreneur.”
He also said that industry should focus on carrying out proper research and innovation and produce products with better quality control thereby carrying out business with ethics and these things should be inculcated in budding entrepreneurs.
“Due to weak global prices and glut in the international markets, prices in India have remained subdued despite a severe shortage of domestic production. For the September, the CPI (consumer price index) marked annualized increase of only 3.6 per cent in the Oils and Fats segment. The situation in edible oil imports is somewhat similar to the crude auto oil. However, unlike the auto fuel segment, the subdued prices have hit interest of farmers, while consumers have benefitted”, the paper noted.
So far the government has raised the customs duty on crude and refined edible oils to 12.5 per cent and 20 per cent respectively. While there is a demand for more such protection for the farmers, the move may lead to spiral in consumer inflation, which the government can ill-afford, learning from the pulses experience.
In the case of pulses, the supply-demand situation at the global level was equally bad in sync with the Indian production which has fallen owing to deficient rains.
“A major concern for the policy planners involved in ensuring the domestic availability of edible oils is the fact that domestic prices of oilseeds and vegetable oils are too un-remunerative to enthuse farmers for intensive oilseeds cultivation. That, in a way, is also coming in the way of the Prime Minister Mr Narendra Modi’s ambition of making India self-sufficient in the area of edible oils. After all, USD 14 billion import bill on account of cooking oil is a huge drain on the country’s foreign exchange,” ASSOCHAM Secretary General Mr D S Rawat said.
Edible oilseed production has been declining from 32.7 million in 2013-14 to 26 million tonnes in 2014-15, noted the study.
It is believed that reduced dependence on edible oil imports could be brought about by increased domestic oilseed production, but barring much stronger price incentives, production and yield improvements depend on improved plant varieties and cultivation practices. The oilseed economy of the country faces a host of challenges on technological, institutional and policy fronts and these not to be tackled effectively.
Among the suggestions made in the paper include modernization of oilseed production, processing, and the marketing of vegetable oils, oilseeds, and by-products, in areas covered by the project. Procurement and marketing of imported and indigenously produced vegetable oils in such a way as would contribute to the stabilization of supplies at levels that will be fair to consumer and growers.
India’s fastest-growing low-cost carrier in terms of Available Seat Kilometre (ASK) growth between FY 2011 and FY 2015, IndiGo, according to Centre For Aviation (CAPA), has extended its long-term maintenance agreement with Thales for its growing fleet of Airbus A320 aircraft. The contract will cover avionics maintenance for a fleet of up to 250 aircraft, including the A320neo which will start being delivered to IndiGo in late 2015. Thales has been a partner to IndiGo since the airline took delivery of its first Airbus A320- 200 aircraft in 2006. Through this agreement Thales provides spares availability and replenishment to IndiGo with stocks located onsite at their main hub in New Delhi, the airline’s main base. Thales also offers IndiGo direct access to a pool of spare parts located in Thales’ Asia-Pacific repair hub in Singapore. “Through this agreement, Thales is able to provide a flexible solution to IndiGo that helps them optimize the maintenance of their fleet while keeping inventory under control,” said
Daniel Malka, Thales Vice President, Avionics Services Worldwide. “As an airline that is committed to affordable travel with on-time performance, having a comprehensive maintenance and support program with a trusted vendor like Thales is of paramount importance,” said Aditya Ghosh, President of IndiGo. “We have had great support from Thales these past nine years and we look forward to a continued partnership as our business develops.” Thales provides a wide range of support and services for avionics in the civil aerospace market. As a proven OEM, Thales offers comprehensive and flexible asset management services – from maintenance services and part distribution to standard exchanges, access to spares pools, pre-owned equipment trading and full component availability packages.
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